JDS Uniphase Shares Surge on Q2 Results (JDSU)
1/31/2013 4:15:42 PM
Shares of JDS Uniphase Corp. (NASDAQ: JDSU) have surged in trading today after the Milpitas, California-based company reported strong second-quarter financial results.
Key Points
- JDS Uniphase’s second-quarter revenue came in at top end of the company’s guidance
- The company’s operating margins exceeded expectations across all business segments
Commenting on the second-quarter results, JDS Uniphase CEO Tom Waechter said that he is pleased with the progress JDSU has made in aligning its product portfolio with consumer spending priorities, resulting in a high percentage of revenue from new products and a positive impact on financial results. Waechter added that the company is well-positioned for growth in 2013.
For the second quarter of fiscal 2013, JDSU reported net revenue of $429.4 million, compared to $409.3 million reported for the same period in the previous year. The company’s GAAP net income for the quarter was $4.1 million, or $0.02 per share, compared to a net loss of $10.2 million, or $0.04 per share reported for the same period in the previous year. On a non-GAAP basis, the company’s net income for the quarter was $42.3 million, compared to $36.3 million reported for the same period in the previous year.
Americas accounted for 49.9% of JDSU’s total revenue in the quarter. EMEA and Asia Pacific, meanwhile, accounted for 23.8% and 26.3%, respectively, of total revenue for the quarter.
Looking ahead, the company expects non-GAAP net revenue in the third quarter to be between $405 million and $425 million.
JDSU shares rose to an intra-day high of $15.14 in trading today. At last check, the stock was trading 18.55% higher at $14.70 on above average volume of 17.28 million.
About JDS Uniphase Corp.
JDS Uniphase Corp. focuses on building and operating the highest-performing and highest-value networks in the world.
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